Help! How do appraisers get access to MLS data Or other listing, sale price, type of loan data

[Zoe]

Data doesn't exist is a different issue. Every appraiser who tried to take on that appraisal would have the same problem.

That's where USPAP gets in mix. GSE too. and Lender too.

 

[Zoe]

Let me put on that NAR is major player in the market I work.

 

[Zoe]

People don't realize how much power NAR has. I realize that depends on market.

 

[Zoe]

I work in western SD in a number of areas, each of which is served by different MLS services or none at all. I rely in Zillow ( or similar online info) the county, and the old fashioned phone call when possible. Every time I restart my quest to sign up with MLS or seek MLS data I run into dead ends. I feel like I am not getting the kind of market analysis done that I need and I turn down some appraisals because of it. I often explain this in my conditions when I accept an appraisal . How do other appraisers deal with this?

Think about this market from your chairman's chair. I don't have time.

 

[Terrel L. Shields]

Every appraiser who tried to take on that appraisal would have the same problem.

Very early on when I was doing FHA, I found out that you only do FHA or FNMA is cookie cutter areas with plenty of sales. You do not venture out into the poorest counties in the state nor in rural areas. It is asking for grief and paid nary a cent more. Despite all the BS FNMA says about no reason to treat rural property as the plague, the reality is that rural property is de facto redlined by GSEs and FHA. Call it what you want but I would say 9 of 10 rural properties will have more "stips" than a similar house in the city limits.

Example? I was once dinged asking me to provide proof that water from a spring house instead of a well was "typical." They wanted 3 comparable houses with spring water sources. Well, I could name a dozen but nary a one was a sale...so coach what do you do?

That's where USPAP gets in mix.

No that is where GSE gets into the mix. USPAP does not mention the MLS as I recall. As I suggested before, we should have a separate "standard" solely for GSEs and FHA/VA. Simply a check box at the top saying if we are complying with USPAP, GSE_SPAP or "other" - like International Standard.

 

[Terrel L. Shields]

People don't realize how much power NAR has. I realize that depends on market.

 

[Zoe]

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No, it is not necessarily true. But they have a bunch of money. LOL

They are just more powerful in certain markets than others. They are powerful in Washington.

 

[Zoe]

They are definitely powerful in Shelby County TN. The thing is locally, is a residential appraiser would be crazy not to join because of time savings that the MLS provides. It also adds so many analytical tools on the data. It makes it hard for an agent or anybody to dispute the opinion of value.

 

[Zoe]

I am sure MLS's differ from territory to territory in what they provide to members. That's a cost vs benefit analysis.

 

[Zoe]

If I could just get GSE data on top of local MLS, I would have real power. I think about that and it could lead to dog eats dog in appraisal industry. I'm okay with that. Many have already ate my lunch.